Your manuscript at last received exhilarated us very considerably. We heard you were better, but did not exactly know the state of things. We had almost made up our minds to go to see you in a snug party for a month or two in the summer, but now you are well we do not care so much about you. Maria says the allowance of a year's purchase is a fair offer, and my Lady is still more eager to go than Maria.
I know not how I made the mistake in saying the annuity should be £280 instead of £254, but on the receipt of your letter, I desired Woodcock to make out the conveyance for £3000 in an annuity at 12 years' purchase (£250) and £4000 on Mortgage at 4 per cent., £160 together with £410. You will observe that I have somewhat diminished the sum to be laid out on an annuity and encreased the sum on Mortgage, thinking it better for you. Unfortunately for you, since the above arrangement, I have discovered that besides the outgoings I mentioned to you there is a Fee Farm rent of £5 8s. 0d. payable out of the Estate, which at 28 years' purchase makes a deduction of £151 4s. 0d. Be assured that you are a damned Jew, otherwise you would have been content with the £6700 which I profferred to you, and I think you ought still. I propose that the annuity and mortgage interest shall begin from Lady-day ensuing, and the Deeds shall be sent to you whenever I can prevail on Woodcock to prepare them. The Annuity shall be payable out of certain farms at Sheffield, and the £4000 mortgage shall be on the Newhaven Estate. The Mortgage Deeds, &c., shall be left in Batt's hands for your account. It is observable that I am paying you £4000 for the reversion of the Estate, and in the meantime more than the annual clear income of it. I am purchasing Lord Heathfield's House and Estate in Sussex, 14 miles from Sheffield, for Sir Henry Clinton. Only 25 years' purchase, deducting every outgoing, is asked, and the timber (which will be very advantageous) is rated very moderately.
You have often remarked how singular your ill-luck is as to sales and titles to Estates. Be it known to you that the conveyance of the Newhaven Estate to your Grandfather is lost. All the other old writings belonging to it were found carefully tyed up and transmitted to me by Mr. Law. The Lawyers say, as I know the circumstances of the Estate and Family, it is such a title as I may take if I please. Yet that I should not be able to sell it again but to disadvantage. I answer that I do not wish it to be sold again. Thus it appears you could not easily sell to anybody but me. As to the Buriton business, I have been almost afraid to tell you that it is still hung up. It is again referred to a Master in Chancery. However, there is no step neglected that can bring it to a conclusion, and I hope it cannot hold on much longer. I have made out that Hugonin was indebted to you to the amount of a year and a half of Buriton. I have sworn to the account, and you will receive at least ten shillings in the pound. Hugonin, his Mistress and daughter are all dead within two years. You will have £8000 on Mortgage in Hampshire, £4000 in Sussex, and £4000 in Yorkshire. All good strings to your bow.
THE LABOURING OAR IN THE HOUSE.
The account of your undergoing a drain equal to fifty blisters furnishes me with some satisfaction, as we think it will be serviceable to your fat carcase. You have proven me busy, but I was comparatively at leisure. I have illuminated the Corn Laws. The subject was not understood. The Pamphlet written in a few days is in great repute. You will abuse it because I only attended to the sense in writing it. I have the labouring oar in the House of Commons. I shall write again soon. In the meantime you must write by return of post, if you wish any other distribution of the money.
I am on a Committee every day from ten to four.
561.
To Lord Sheffield.
Lausanne, April 9th, 1791.